It’s been a little more than three months since Cardano’s Alonzo fork was implemented, but the blockchain is already gaining popularity among developers.
Cardano was the most developed crypto project on GitHub in 2021, according to data compiled by CryptoRank and Santiment, with over 140,000 events.
Rounding out the top three were Kusama and Polkadot at second and third places, respectively, with roughly the same number of events over the year. Cardano beat Ethereum’s development activity by a wide margin, with the latter coming in fourth place. Santiment defines a GitHub event as either creating an issue, creating a pull request, commenting on an issue or pull request, or forking/starring/watching a code repository, among others.
The Most Developed Cryptos on @Github in 2021 🚀
— CryptoRank Platform (@CryptoRank_io) January 3, 2022
In a live Youtube session last week, Cardano founder Charles Hoskinson revealed that there are approximately 127 projects under development on the Cardano blockchain. In addition, Hoskinson expects the number of ADA users to grow tenfold from the existing 2 million, thanks to the growing popularity of nonfungible tokens, or NFTs.
Cardano’s technological advancement is also gaining traction post-Alonzo.
The layer-two Hydra upgrade, which routes transactions off-chain to staking pools without partitioning the ledger itself, is one of the blockchain’s notable works in progress. In theory, it could allow for advanced linear scaling of the network with hundreds of “hydra nodes” processing hundreds of transactions each.
Another noteworthy mention is the initial stake pool offering (ISPO), a novel fintech funding mechanism unique to the Cardano blockchain. In this setup, blockchain enthusiasts delegate their cryptocurrencies through a protocol in exchange for tokens of the new project they fund. The ADA staking rewards, on the other hand, go to the developers. Because funds do not leave the delegator’s wallet, the process is relatively secure. Genius Yield, for example, saw its ISPO pools surpass $118 million in a single day.